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Founded in 1993 by Erik Gloersen, Andre Backen, Gaute Godager and Olav Mørkrid, the company is one of the leading European independent game developers and publishers.[citation needed] They focus mainly on PC games but have also released games on other platforms, including mobile phones and tablets. Funcom's console releases includes titles on Sega Mega Drive/Genesis, Super NES, Sega Saturn and Xbox.

In December 2005, Funcom was the first Norwegian game developer to be listed on the Oslo Stock Exchange.

On August 21, 2008, Funcom laid off half of its Customer Service department located in Durham, North Carolina. On November 22, 2008, third parties reported that Funcom fired additional 70% of the staff in their US workforce, possibly endangering future releases.[2]

On September 17, 2008, Gaute Godager left Funcom, stating he was dissatisfied with certain elements of Age of Conan, which he directed.[3] Craig Morrison took over the direction of Age of Conan.

On February 23, 2009, Funcom reported financial losses of approximately $23 million in the fourth quarter of 2008. The unsuccessful launch of Age of Conan was cited as the reason for such steep decline. The chief analyst of DnB NOR, Fredrik Thoresen, estimated that 100,000 subscribers played the game at the time of the report, far below the publisher's expectations, though these numbers were not confirmed by Funcom itself.[4]

On September 1, 2009, Funcom announced the establishment of a new development studio in Montreal, Canada. The new studio has worked on Funcom's two MMORPG projects: The Secret World and the Age of Conan expansion pack Rise of the Godslayer.[5]

On September 29, 2009, Funcom announced a reduction of 20% of its staff, resulting in "significant delay" for the release of The Secret World.[6]

All the perceived actions were reflected in the 2010 Annual Financial Report. The current[when?] number of employees is 282 (a 19% reduction to 2009). As the result of the new strategy, the operating results came close to a positive value – in 2010 it reached -US$593 thousand compared to -US$10 798 thousand in 2009.[7]

On July 2, 2012, Funcom announced Ole Schreiner as the new CEO of Funcom and as a new member of the Management Board of Funcom. Ole Schreiner comes from the position of COO of the company, a role he has held for several years.[when?] Ole Schreiner is one of Funcom's longest-serving employees and he has been working directly with titles such as Anarchy Online, Age of Conan and The Secret World in several capacities. Trond Arne Aas, long term CEO of Funcom, took on a new role as Strategic Advisor to the Board and Chief Strategy Officer,[8]

On August 22, 2012, Funcom announced that it laid off half of the company as a cost-adjustment initiative due to the poor performance of their MMORPG The Secret World. Some of the lay-offs were temporary. They blamed this poor performance on the Metacritic score of the game and the launch of competing titles like Diablo III.[9]

On January 10, 2013, Funcom announced that they have initiated a process of restructuring the company around its core products and technology. The restructuring involves, among other things, that some of the company's offices will be closed or consolidated with others. Thus Funcom hope to create a stronger and more effective organization.[10][11] The company announced on January 17, 2013, that it will lay off some of its staff of their Montreal branch as a part of the restructuring process.[12]

On January 29, 2014, Norwegian economic crime unit Økokrim launched an investigation into suspected infringement of the provisions of the Securities Trading Act connected to the 2012 launch of The Secret World.[13] In October 2015, the case against Funcom was closed after the company paid a fine.[14]

On April 24, 2014, the company reported securing NOK 9.7 million (USD 1.6 million) additional equity.[15] The additional cash boost will help the company to fully prepare for the launch of the LEGO Minifigures MMO in summer 2014.[16]

In October 2015, the company launched The Park,[17] a single-player horror experience based on The Secret World intellectual property.

In December 2015, the company announced that it had entered into a partnership agreement with Conan Properties International LLC,[18] making it the preferred partner for PC and console games based on the Conan the Barbarian brand.

In January 2016, the company announced it is working on Conan Exiles,[19] an open-world survival game based on the Conan the Barbarian brand. The game will enter Early Access in February 2017, with full launch on PC and console to follow.

The Longest Journey was produced by Ragnar Tørnquist and was very well received both by critics and users. The game was published in 8 languages: English, Norwegian, French, Dutch, Swedish, Polish, Russian and Spanish. The game was also released in other countries, but mainly in English-speaking ones.

Anarchy Online is a critically acclaimed online game, more specifically a massively multiplayer online role-playing game (MMORPG), with 20 international awards. Funcom issued several expansions; The Notum Wars, Shadowlands, Alien Invasion, Lost Eden and Legacy of The Xan. Founder Gaute Godager was the first Game Director, before Marius Enge released Alien Invasion and took over at the release of Shadowlands. However, shortly after the release of Alien Invasion, Morten Byom took over. Later, near the release of the Lost Eden expansion, Byom moved on to the Age of Conan team, and was succeeded as Game Director by Craig Morrison, also known as "Silirrion". Following the game, a book about the pre-history of the planet and a CD with music from the game were released.

In the spring of 2006, the company released the sequel to The Longest Journey for the Xbox and PC, entitled Dreamfall.

The development of their MMO The Secret World was announced on May 11, 2007.[20] The game was released on July 3, 2012.

Funcom earned a license from the Lego Company to develop a new MMO game, titled Lego Minifigures Online. The game is child friendly and was originally intended to be free-to-play, but released with a buy-to-play model on June 29, 2015.

On October 27, 2015, Funcom released a single-player horror title, The Park, set in the same universe setting as their MMO, The Secret World.